Ready to Occupy Flats in Chennai Are Best For Property Investors
A Ready to Occupy Flats in Chennai is considered as low risk while compared to flats under construction, as they doesn’t involve any risks such as changes from the promised design plans, construction delays, cost increase and quality. Yet as they say, there is “No Risk” or “Return”, the ready to occupy flats comes with a price tag. A ready to occupy apartments are priced higher than the under construction properties. Generally, in prime areas you can get flats for sale in Chennai below 40 lakhs and above. This also makes us sometimes unaffordable and out of pocket. In this case, many flat buyers have started showing boredom towards under construction properties. Besides, investing on ready to occupy flats in Chennai offers various advantages than other projects that are nearing possession. Further, it can need a lot of intelligence before investing on a under construction properties by any reputed builders.
Whereas the under construction properties are priced less when compared with to buy ready to occupy flats in Chennai and, it has a short time price appreciation. While in under construction properties or projects nearing possession limits the risk of delays and changes in construction quality, but it has a good scope of long time price appreciation in the future, once the construction of the projects is completed and completely operational. Besides, a ready to occupy budget flats in Chennai for sale that are nearing its possession stage are best for property investors to buy. In addition, it is a best for someone who lives in a rental home. For instance, if you are planning to get a ready to occupy budget flats for sale in Chennai for 30 lakhs, the rental amount you pay there could be a savings on rent here.
Furthermore, if you purchase it as a rental property, the rental income can also help you to pay the instalments. Whereas, with a under construction properties, you will end up paying both EMIs and rent as well, if the home possession is delayed. In this case, you may overcome a distressed financial situation. Still, if a loan is being taken below 25 lakhs or below 25 lakhs to buy your new flats in Chennai for 25 lakhs, one should not rely a big amount to pay off your EMIs, as the property may sit empty for one or two months.
Low Risks involved in Ready to Occupy Flats in Chennai
Buying ready to occupy budgeted flats in Chennai eliminates risks joined with project fulfilment. It gives you good advantage such as, tax benefits on repayment of property loans raised to finance such property. In addition, it boosts the scope for future price appreciation as well as some savings in the form of the rents earned. With the cash broke property developers, inconstantly delaying their residential construction projects in almost all the key areas of Chennai, many home buyers, especially the customers have started preferring Chennai new apartments flats for sale or properties that are nearing its possession stage. There are few areas in Chennai, which takes an average of construction project delays is anywhere between 1 or 2 years.
Apartment for Sale in Chennai within 40 Lakhs
Some renowned property developers have less delay in their construction projects, in the range of 2 or 3 months. In few cases, the construction project delays may take more than 2 years. There is not only delay in the project delivery, but also the problem that is most of the time after waiting so long for property possession. Moreover, the complaints in the real estate segment mostly relate to delays in property delivery of an apartment that may cost within 40 lakhs or 35 lakhs. In this case, the property buyers feels that he did not get his requirement for what they paid for. In addition, the delivered product such as, independent home or flats for sale in Chennai below 40 lakhs may not being as promised by the real estate developers, at the booking time in terms of construction quality or specifications.
Above all this positive and negative side of investment while buying a ready to occupy apartments for sale in Chennai below 30 lakhs or above 30 lakhs, or a nearing possession property, a deep analysis would be considering both under construction properties and ready to occupy budget flats in Chennai for sale have their positives and negatives. Selecting between these two is entirely depends on your property requirements. If you were looking for a property that gives high return on investment, an under-construction property would be a better and flexible move.
Where to Buy Affordable Villas in Chennai?
Investing on a dream home in the core city has now become a far-fetched dream for many people.The savings are the main thing that drive every home investors to afford for their property investment.However, the escalating real estate costs inner the core city of Chennai are pushing home seekers to search in suburb parts. This generally led people to go for flats or house for sale in Chennai suburbs above 24 lakhs of price range.
The present real estate scene of Chennai is witnessing a major growth towards the fringes of the city. Thus, more and more individuals are getting the opportunities just to buy their dream home or flats starts from 13 lakhs in the peripheral areas of Chennai. Moreover, theyfeel worth living here because of affordable price tag and hassle free environment. Likewise, there are also plots on high demand in the suburbs of the city where the price range may vary.
Similarly, south Chennai has few promising neighbourhoods that offers a wide variety of affordable residential properties that starts from 34 lakhs. Apart from just flats, if you are well to afford then you could just buy a residential property in south Chennai, especially in a locality like Chrompet have seen a steep demand and high capital values.